RLI (NYSE:RLI) Price Target Increased to $185.00 by Analysts at Compass Point

RLI (NYSE:RLI) had its price objective increased by Compass Point from $170.00 to $185.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group raised their price objective on RLI from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price objective on shares of RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their target price on RLI from $162.00 to $165.00 and gave the stock a “sector perform” rating in a report on Wednesday. Oppenheimer assumed coverage on RLI in a research report on Wednesday, October 16th. They set a “market perform” rating on the stock. Finally, Wolfe Research began coverage on RLI in a research note on Wednesday, October 9th. They issued an “outperform” rating and a $182.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, RLI has a consensus rating of “Moderate Buy” and a consensus price target of $177.40.

RLI Price Performance

NYSE:RLI traded down $3.92 during trading hours on Friday, reaching $155.30. 113,859 shares of the company were exchanged, compared to its average volume of 154,336. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.06. The firm has a market cap of $7.10 billion, a PE ratio of 17.07 and a beta of 0.41. RLI has a twelve month low of $125.77 and a twelve month high of $164.25. The stock’s 50-day moving average is $154.75 and its 200-day moving average is $147.21.

RLI (NYSE:RLI) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33. RLI had a net margin of 23.77% and a return on equity of 19.03%. The firm had revenue of $470.00 million for the quarter, compared to analyst estimates of $491.54 million. During the same period last year, the company posted $0.61 EPS. RLI’s quarterly revenue was up 41.7% compared to the same quarter last year. On average, sell-side analysts anticipate that RLI will post 6.07 earnings per share for the current fiscal year.

RLI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 0.75%. RLI’s dividend payout ratio (DPR) is 12.75%.

Hedge Funds Weigh In On RLI

Several large investors have recently modified their holdings of RLI. Chatham Capital Group Inc. lifted its position in RLI by 11.2% in the first quarter. Chatham Capital Group Inc. now owns 12,957 shares of the insurance provider’s stock valued at $1,924,000 after buying an additional 1,300 shares during the last quarter. Oak Thistle LLC purchased a new stake in RLI in the first quarter valued at approximately $468,000. State of Michigan Retirement System lifted its stake in RLI by 2.1% during the first quarter. State of Michigan Retirement System now owns 9,816 shares of the insurance provider’s stock worth $1,457,000 after purchasing an additional 200 shares in the last quarter. Norden Group LLC purchased a new position in shares of RLI during the first quarter worth $200,000. Finally, Van ECK Associates Corp raised its holdings in shares of RLI by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 18,890 shares of the insurance provider’s stock valued at $2,805,000 after buying an additional 5,053 shares during the period. Institutional investors and hedge funds own 77.89% of the company’s stock.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.